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Legal, pensions and money

Debts of the parents should be inherited by the children.

(42 Posts)
bentley49 Fri 26-Jul-13 14:50:10

When a parent dies the assetts are in most cases inherited by the children.
Why not have a law saying all debts are passed on to the children.

Gerry

HUNTERF Sun 04-Aug-13 12:53:43

granjura

I wrote a second message at 23.17.24 which you may not have seen.
In summary care has to be taken when a new partner moves in to a house late in life.
Where as I did have some sympathy with the one where the property was willed to the partner and then it was found later the offspring half owned it care must be taken to make sure the partner would not have to leave if the property owner dies and legally binding arrangements are made.
I don't know if a solicitor drew up this will or some will writers but I would have expected them to at least ask if anybody else had any interest in the property but I don't think they are obliged to check at the land registry.

In my case the woman knew about my interest in the house so I had no sympathy with her and I was living in it.
It might not be so obvious if the offspring lived elsewhere and only visited occasionally. Unfortunately I can not see a fair way of dealing with this situation except to say to later in life partners to obtain a copy of the land certificate and register their interest if all is ok.
If the new partner is not legally minded he / she should see a solicitor so a lot of grief is avoided later.

Frank

granjura Sun 04-Aug-13 09:17:19

Thanks for your message Frank. I have replied.

HUNTERF Sat 03-Aug-13 21:02:16

granjura

The lady had her own house.

Frank

HUNTERF Sat 03-Aug-13 21:00:37

Ana

I wrote the message to granjura while you were writing your thread.

Frank

HUNTERF Sat 03-Aug-13 20:58:07

granjura

I have sent you a brief outline of the circumstances of my inheritance via a private message to avoid putting a new thread on Gransnet.

Frank

Ana Sat 03-Aug-13 20:46:25

granjura, you're right, of course, and I'm sure no one would disagree with that point. Frank's father had apparently only been with the lady in question for a short time, and she had moved out after they split up well before his death.

According to Frank, her friends and relatives harassed him for months saying the house should have been left to her, and even though she died recently they are still saying her next of kin should have the house....confused

(But that's Frank's world - coincidences and unfortunate consequences seem to follow him around.)

granjura Sat 03-Aug-13 20:36:01

Missed it, yes. But honestly I wish people would not personalise every discussion. We should be able to talk about basic 'principles' without always narrowing it down to a personal and untypical situations. Some widows do find companionship after their loss, thank goodness, and not always to a money grabber- but a truly caring person who deserves being acknowledged in the inheritance process and not be made homeless when the partner meets its maker.

Nonu Sat 03-Aug-13 18:48:56

Granjura , purleeese , you will be here for ever and a day !!!!!!!!!!!!

smile

gracesmum Sat 03-Aug-13 18:48:52

Granjura - believe me, you do NOT want to go there! grin

Lilygran Sat 03-Aug-13 18:42:25

granjura you must have missed the other threads in which Frank described the situation at his father's death!

granjura Sat 03-Aug-13 17:35:30

HunterF, why should your father's ex not have a right to some of the inheritance? Would your father not have wanted her to have part of it? I feel it is totally unfair that children who do not visit or help and support their parents (and I am not saying it is the case here) should inherit the estate, whereas the person they have shared their life with, and often looked and supported them, not get a thing. How fair is that?

HUNTERF Sat 03-Aug-13 14:02:27

Yet another junk thread Gerry has started and never come back to.

Frank

shysal Sat 27-Jul-13 08:43:59

Calm down dear! Gerry is only a wind-up merchant, he won't have thought through any of his crazy posts, other than to think of subjects to annoy Frank.
Gerry, this is all so boring - get a life and leave us alone!

HUNTERF Sat 27-Jul-13 07:39:16

whatsgoingon

I can only agree with what you are saying.
From my experience with the council I came across a case where the parents were drug addicts and the daughter did not want to have anything to do with drugs.
She is now in a good job, has a nice enough house and a new car. I feel sure she will get a better house at some point.

Frank

whatsgoingon Sat 27-Jul-13 05:20:49

If the Children pay off their parents debts and it then leaves the children in debt their children ( the grandchildren. ) will have to pay off even more debt . This knock on effect could get out of hand. Why should responsible children be liable for their irresponsible parents.

Ana Fri 26-Jul-13 19:26:17

Brick wall...

HUNTERF Fri 26-Jul-13 19:20:00

Ana

I agree with what you are saying but I did as much as I could to save cost.
I could have got the house transferred in to my name but I let the solicitor do it as I did not want my father's ex coming back on some obscure legal technicality.

Frank

Ana Fri 26-Jul-13 19:01:38

You don't have to be involved with the winding-up of an estate to inherit from it, Frank...confused

HUNTERF Fri 26-Jul-13 19:00:47

Ana

When my father died he was owing about £800 to the credit card company.
I paid it to avoid interest charges knowing what I was going to inherit was a lot more.

Frank

HUNTERF Fri 26-Jul-13 18:57:59

granjura

In the UK the children are not obliged to get involved with the winding up of the parents estate but most do as they want their inheritance.

Frank

HUNTERF Fri 26-Jul-13 18:54:44

I don't think Bentley49 has thought through what he is saying.
You could get an extreme case as mentioned by Stansgran where £12,000,000 of debts are ran up.
Even if the children had very good careers they are unlikely to be able to pay this amount back during their working lives.
Even a full time GP only earns about £3,500,000 over their working lives and they have got to live and have some enjoyment out of life.
They also have to pay tax out of this £3,500,000 as well.

Frank

Ana Fri 26-Jul-13 17:27:41

Even in this country your debts don't necessarily die with you. If the property was mortgaged and you didn't have life insurance to cover it, the mortgagor would still claim the outstanding balance from the estate.

granjura Fri 26-Jul-13 17:10:23

It is certainly the law where I live Bentley. But offsprings can refuse the inheritance if they suspect that the debts amount to more than assets.

Nonu Fri 26-Jul-13 16:23:57

I read that the Beckhams have viewed his house !!!

Anne58 Fri 26-Jul-13 16:22:04

"CSL" ? confused